Amundi tokenized a share of its money market fund for the first time, using the Ethereum blockchain to ensure transparent record-keeping and traceability of operations.
Amundi, the biggest asset management company in Europe, announced the issuance of the first tokenized share of its money market fund, AMUNDI FUNDS CASH EUR. The transaction took place on November 4, and the fund is now available both in its traditional form and as a digital share, AMUNDI FUNDS CASH EUR – J28 EUR DLT (C).
AMUNDI FUNDS CASH EUR became the company’s first product partially transferred into an on-chain format. Ownership records and transaction processing take place on Ethereum, providing data immutability and enhanced transparency. The tokenized version is distributed alongside the traditional one, creating a hybrid access model for investors.
The project was implemented in collaboration with CACEIS, one of the largest service providers in the European asset management market and a major transfer agent. The company is responsible for the technological infrastructure — the tokenization platform, digital investor wallets, and the system for submitting subscription and redemption requests.
According to Amundi, the use of blockchain technology provides several key advantages, including:
- instant execution of orders;
- 24/7 operational availability;
- expanded distribution channels that reach new generations of investors.
Jean-Jacques Barbéris, Head of Institutional and Corporate Clients and ESG at Amundi, stated that asset tokenization will become a global trend in the coming years. He noted that launching a tokenized share of the money market fund demonstrates the company’s readiness to apply the technology in practical use cases while meeting the highest security standards.
CACEIS CEO Jean-Pierre Michalowski emphasized that the new hybrid transfer agent model will enable clients to quickly connect a blockchain-based distribution channel. He added that the initiative is a key step toward offering 24/7 subscription and redemption services for fund shares, paid with stablecoins (EMT) or, in the future, central bank digital currencies (CBDC), once they become available.
Previously, Singapore’s DBS Bank with Franklin Templeton and Ripple offered institutional investors new trading and lending instruments based on tokenized money market funds.
